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Updated · Bloomberg · Jul 8Trump Ends US-Iran Ceasefire as Brent Jumps 5.8% and S&P Futures Drop 1%
3 articles · Updated · Bloomberg · Jul 8Summary
- Brent crude climbed 5.8% to about $78.50 a barrel after Trump said the US-Iran ceasefire was “a waste of time” and effectively over.
- S&P 500 futures fell 1%, bond yields spiked and the dollar wavered as investors repriced the risk of a wider conflict.
- The renewed tension followed US strikes on Iran launched in response to attacks on ships transiting the Strait of Hormuz.
- Gold fell even as oil surged, underscoring a market reaction centered on supply disruption and geopolitical risk rather than a broad rush into havens.
Insights
With U.S. missile stockpiles critically low, can America sustain a new phase of war against Iran? As the Strait of Hormuz closes again, is a global recession now unavoidable?